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ENTREPRENEURSHIP
BRUNEI ECONOMIC DEVELOPMENT BOARD
The Brunei Economic Development Board (BEDB) was established in
2003 with the main objective and role of growing and diversifying Brunei
Darussalam’s economy towards achieving Brunei Vision 2035.
The Board focusses on developing local economy by investing in export-
oriented industries and creating spin-off opportunities for local businesses.
Such strategies have the positive side effect of generating more employment
opportunities for locals.
Targetting four key areas – attracting investments, strengthening local
businesses, increasing research, development and innovation, and
delivering key infrastructure projects – BEDB conducts research on the
local economy and analyse their findings to develop its own strategies and
initiatives. The initiatives aim to not only maximise economic benefits in the
country but to also develop sound strategic recommendations for potential
investors.
BEDB is at the forefront in facilitating foreign investments into the country
and works closely with investors to bridging the gap between their business
demands and the country’s economic needs. BEDB also provides information
on the local investment climate, developmental requirements, laws and
regulations, costs of doing business, and project specific information.
BEDB recognises five priority areas of business and investment:
•
Halal
– Pharmaceutical and health supplements, aquaculture, agriculture,
food processing, manufacturing and distribution and cosmetics
•
Technology and Creative Industry
– Data centre, digital media
Internet of Things (IoT) and biotechnology
•
Business Services
– Transportation and logistics, financial services
and business process outsourcing
•
Tourism
– Medical tourism, cultural tourism, hospitality and eco-tourism
•
Downstream Oil and Gas
– Petrochemicals and downstream oil and
gas
By 2025, the global Halal food industry alone is estimated to be worth
USD2.10 trillion. The Muslim population is expected to grow reaching up
to two fifth of the world total population – with Indonesia, Pakistan and